The number of older people in debt has risen sharply over the past year, research from Age- UK reveals.
A poll of 1,000 people aged 60 and over found one in five (20%) owe money on a mortgage, credit card or loan. This figure has doubled since a survey carried out by the charity in 2011. One fifth (19%) of those in debt are concerned about the amount of money they owe, with one in ten (11%) having to borrow money to pay their rent or mortgage. Michelle Mitchell, charity director-general at Age UK says: "It is extremely worrying that such a high number of older people report having debts and have had to borrow money just to keep a roof over their heads." The survey also found a third...
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